TCM Group

Major Shareholding Notification • May 10, 2022

Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be uploaded at http://oasm.finanstilsynet.dk)
The boxes in sections (1-6) and section (8) in the standard form must always be filled out.
	Then, please fill out the sections in the standard form for the relevant type of financial instrument.
For notification regarding shares go to section (7.1) in the standard form. For notification regarding financial instruments in accordance with section 39(2)(1) of the Capital Markets o Act, go to section (7.2) in the standard form. For notification regarding financial instruments in accordance with section 39(2)(2) of the Capital Markets o Act, go to section (7.3) in the standard form. In case of proxy voting, fill out section (9) in the standard form.
1. Identity of the issuer 1 : TCM Group
2. Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights or share capital
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights or share capital Other (please specify) ii :
3. Details of person subject to the notification obligation ii :
Name: Paradigm Capital Value LP Address: 251, Little Falls Drive
	Wilmington, Delaware 19808, USA
Email address: National ID-numberiv: EIN 99-0375707 gp@paradigmcapitalpartner.com
4. Full name of shareholder (if different from 3.) v :
5. Date on which the threshold was crossed or reached vi : 06 May 2022

6. Total positions of the person subject to the notification obligation:
Voting rights:
	Voting rights attached to shares in % (total of $7.1.A$ )	Voting rights through financial instruments in % $(total of 7.2.A + 7.3.B)$	Total of both in % $(7.1.A + 7.2.A + 7.3.A)$
Resulting situation on the date on which threshold was crossed or reached	5.18%	0%	5.18%
Position of previous notification (if applicable)
		Share capital:
	Share capital attached to shares in % (total of 7.1.B)	Share capital through financial instruments in % $(total of 7.2.B + 7.3.B)$	Total of both in % $(7.1.B + 7.2.B + 7.3.B)$
Resulting situation on the date on which threshold was crossed or reached	5.18%	0%	5.18%
Position of previous notification (if applicable)

6.A Information on the issuer
Total number of voting rights of issuervil	9,142,294
Total share capital in issuervi	9,142,294

7.1 Shares according to section 38 of the Capital Markets Act

				I
rights Voting 1.A: 7.	shares attached to
code ISIN	of voting rights Number		of voting rights %
	Voting rights which the subject the person to obligation notification directly or holds indirectly' Capital 38(1) of the (Sect. Act) Markets	Voting rights the which subject the person to obligation notification entitled acquire, to is dispose of or exercise 38(2) Capital (Sect. of the Act) Markets	Voting rights which the person subject to the obligation notification directly or holds indirectly' 38(1) Capital (Sect. of the Act) Markets	Voting rights which the subject person to the obligation notification entitled to acquire, is dispose of or exercise (Sect. 38(2) of the Capital Act) Markets
DK0060915478	473,447	0	5.18%
SUBTOTAL7.1.A	473447		5.18%
capital Share B: 7.1.	shares attached to
ISIN code	shares' of Number		of shares %
	Capital Markets Act) of the (Sect. 38(1)		Act) 38(1) Capital Markets (Sect. of the
DK0060915478	473,447		5.18%

SUBTOTAL7.1.B 473,447 5.18%

7.2 Financial instruments according to section 39(2)(1) of the Capital Markets Act

7.2.A: Voting rights attached to financial instruments according to section 39(2)(1) of the Capital Markets Act

Type of financial instrument	Expiration date '	Exercise/conversion periodx	Number of voting rights that may acquired if the be instrument is exercised/converted	of voting rights %
		7.2.A SUBTOTAL

of Act according Capital Markets section 39(2)(1) the capital financial instruments to attached to 7.2.B: Share
Type of financial instrument	Expiration date	Exercise/conversion periodx	may Number of shares that acquired if the be instrument is exercised/converted	of share capital %
		7.2.B SUBTOTAL

7.3 Financial Instruments with similar economic effect acc. to sect. 39(2)(2) of the Capital Markets Act

7.3.A: Voting rights attached to financial instruments according to section 39(2)(2) of the Capital Markets Act Type of financial instrument Expiration dateix Exercise/conversion periodX Physical or cash settlementX Number of voting rights % of voting rights SUBTOTAL 7.3.A

of according Capital Act financial instruments section 39(2)(2) the Markets capital attached to 7.3.B: Share to
Type of financial instrument	Expiration datex	Exercise/conversion periodx	Physical or cash settIement	of Number shares	of share capital %
			SUBTOTAL 7.3.B

of undertakings controlled Chain (please tick the appropriate 8. box):
subject obligation The person to the notification not controlled by any entity natural person or legal is does and not any undertaking(s) holdings the (underlying) control with issuer in
fjjj E of controlled undertakings through voting rights chain which the and/or the financial instruments are x"I starting effectively with the ultimate controlling or legal entity held natural person
Name"	voting Total rights if more than 5%	capital Total if more share than 5%

1. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of [date]

2. Additional information^xv: Inadvertent passing of reporting threshold due to the issuer's reduction in share capital

Date, place and signature

09 May 2022, Wilmington

Bauce Guevald
Bure Greenwald, Director

NOTES

'Full name of the issuer. With regard to financial instruments by issuer means the issuer of the underlying share.

"Other reason for the notification could be voluntary notifications, changes of attribution of the nature of the holding (e.g. expiry of financial instruments) or acting in concert.

"This should be The full name of

• a) the shareholder;
• b) the natural person or legal entity acquiring, disposing of or exercising voting rights in the cases provided for in section 38(2)(2-8) of the Capital Markets Act; or
• c) the holder of financial instruments referred to in section 39 of the Capital Markets Act.

As the disclosure of cases of acting in concert may vary due to the specific circumstances (e.g. same or different total positions of the parties, entering or exiting of acting in concert by a single party), the standard form does not provide for a specific method on how to notify cases of acting in concert.

In relation to the transactions referred to in sentences (2) to (8) of section 38(2) of the Capital Markets Act, the following list is provided as indication of the persons who should be mentioned:

• ⁼ in the circumstances foreseen in section 38(2)(2) of the Capital Markets Act, the natural person or legal entity that acquires the voting rights and is entitled to exercise them under the agreement and the natural person or legal entity who is transferring temporarily for consideration the voting rights;
• in the circumstances foreseen in section 38(2)(3) of the Capital Markets Act, the natural person or legal entity holding the collateral, provided the person or entity controls the voting rights and declares its intention of exercising them, and natural person or legal entity lodging the collateral under these conditions;
• in the circumstances foreseen in section 38(2)(4) of the Capital Markets Act, the natural person or legal entity who has a life interest in shares ifthat person or entity is entitled to exercise the voting rights attached to the shares and the natural person orlegal entity who is disposing of the voting rights when the life interest is created;
• in the circumstances foreseen in section 38(2)(5) of the Capital Markets Act, the controlling natural person orlegal entity and, provided it has a notification duty at an individual level under section 38(1), under sentences (1) to (4) ofsection 38(2) ofthe Capital Markets Act, or under a combination ofany ofthose situations, The controlled undertaking;
• in the circumstances foreseen in section 38(2)(6) of the Capital Markets Act, the deposit taker of the shares, if he can exercise the voting rights attached to the shares deposited with him at his discretion, and the depositor of the shares allowing the deposit taker to exercise the voting rights at his discretion;
• in the circumstances foreseen in section 38(2)(7) of the Capital Markets Act, the natural person or legal entity that controls the voting rights;
• in the circumstances foreseen in section 38(2)(8) of The Capital Markets Act, The proxy holder if he can exercise the voting rights athis discretion, and the shareholder who has given his proxy to the proxy holder allowing the latter to exercise the voting rights at his discretion (e.g. management companies).
• National identification number of the natural person or legal entity if such exists.

^V Applicable in The cases provided for in section 38(2)(2-8) of the Capital Markets Act. This should be the full name of the shareholder who is the counterparty to the natural person or legal entity referred to in section 38(2) ofthat Act unless the percentage of voting rights held by the shareholder is lower than the lowest notifiable threshold for the disclosure of voting rights holdings in accordance with national practices (e.g. identification of funds managed by management companies).

The date on which a threshold is crossed or reached should be the date on which the acquisition or disposal took place or the other reason triggered The notification obligation. For passive crossings, the date when the corporate event took effect.

vii The total number of voting rights or share capital shall be composed of all the shares, including depository receipts representing shares, to which voting rights are attached even if the exercise thereof is suspended.

VIII Present the voting rights or share capital that the natural person or legal entity subject to notification holds directly or indirectly. Direct holding means the shares held by the natural person or legal entity subject to notification itself or held by the natural person or legal entity subject to notification in its own name, but on behalf of a natural person or legal entity. Indirect holding means that the natural person orlegal entity subject to notification holds the share through a controlled company or a chain of controlledundertakings.

IX Date of maturity/expiration of the financial instrument, i.e. the date when right to acquire shares ends.

"If the financial instrument has such ^a period -please specity this period - for example once every ³ months starting from [date].

XI In case of cash settled instruments, the number and percentages of voting rights or share capital is to be presented on a delta-adjusted basis pursuant to section 38(3) and (4) of the Capital MarketsAct.

XII If the person subject to the notification obligation is either controlled and/or controls another undertaking, then the second option applies.

The full chain of controlled undertakings starting with the ultimate controlling natural person or legal entity has to be presented also in the cases in which, only at subsidiary level, a threshold is crossed or reached and the subsidiary undertaking discloses the notification, as this is the only way for the markets to always get the full picture of the group holdings.

In case of multiple chains through which the voting rights and/or financial instruments are effectively held, the chains have to be presented chain by chain leaving a row free between different chains (e.g.: A, B, C, free row, A, B, D, free row, A, E, Fetc.).

'v The names of controlled undertakings through which the voting rights or share capital and/or financial instruments are effectively held have to be presented irrespective of whether the controlled undertakings cross or reach the lowest applicable threshold themselves.

XV Example: Correction of a previous notification